Gibbs Wealth Management Purchases New Shares in Range Resources Corporation $RRC

Gibbs Wealth Management acquired a new position in Range Resources Corporation (NYSE:RRC) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 13,379 shares of the oil and gas exploration company’s stock, valued at approximately $604,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Range Resources by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company’s stock worth $901,021,000 after buying an additional 701,751 shares during the last quarter. King Luther Capital Management Corp grew its position in Range Resources by 49.8% in the fourth quarter. King Luther Capital Management Corp now owns 1,281,975 shares of the oil and gas exploration company’s stock worth $45,202,000 after acquiring an additional 426,300 shares in the last quarter. SG Americas Securities LLC grew its position in Range Resources by 101.2% in the fourth quarter. SG Americas Securities LLC now owns 66,689 shares of the oil and gas exploration company’s stock worth $2,351,000 after acquiring an additional 33,544 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new position in Range Resources in the fourth quarter valued at $21,129,000. Finally, Canoe Financial LP raised its position in Range Resources by 13.1% during the fourth quarter. Canoe Financial LP now owns 1,573,309 shares of the oil and gas exploration company’s stock valued at $56,261,000 after purchasing an additional 182,000 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Trading Up 0.3%

NYSE RRC opened at $38.97 on Friday. The firm has a market cap of $9.11 billion, a PE ratio of 10.77 and a beta of 0.41. Range Resources Corporation has a 1-year low of $32.60 and a 1-year high of $48.31. The stock has a 50-day moving average of $38.23 and a 200-day moving average of $39.42. The company has a current ratio of 0.65, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The business had revenue of $759.58 million for the quarter, compared to analyst estimates of $744.78 million. During the same period last year, the company earned $0.66 EPS. Range Resources’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Range Resources Corporation will post 3.49 EPS for the current year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources’s dividend payout ratio is 11.05%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RRC shares. Stephens lifted their price target on Range Resources from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday. Susquehanna decreased their price objective on Range Resources from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Zacks Research downgraded Range Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Morgan Stanley cut their target price on Range Resources from $50.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, June 29th. Finally, Citigroup reiterated a “neutral” rating on shares of Range Resources in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $43.12.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.